• Crypto funding shifting from US to China
    Cryptocurrencies

    Go East: Crypto funding shifting from US to China, report says

    In 2015, just 2% of cryptocurrency and blockchain deals were for Chinese companies. Fast forward four years to 2019, and the figure soared to 22%

    In it Blockchain Report 2020, CBInsights said 51% of deals in the industry were for US-based companies four years ago, while only 2% was earmarked for Chinese businesses. According to the latest figures, China’s share of deals is 22% in 2019, while America’s share dwindled to just 31%.

  • Cryptocurrencies,  Technology

    China completes digital yuan design

    The People’s Bank of China says it has completed the ‘top-level design’ and joint testing of its forthcoming central bank digital currency 

    The next steps in the country’s digital currency/electronic payment, or DC/EP, project—which it has been hammering away at for five years—are to “follow the principles of stability, security and control” and to “select pilot verification areas, scenarios and service scopes,” said Mu Changchun, the head of the PBOC’s digital currency research institute.

  • Chinese tech giant Baidu has launched The Matrix, er, the Xuperchain blockchain (via Baidu).
    Technology

    Chinese search giant Baidu launches Xuperchain blockchain

    At about one-seventh the cost of competing blockchain-as-a-services platforms, the goal is to make it easier for small companies to launch DApps

    Baidu Xuperchain is a “blockchain basic service” for small- to medium-size businesses that want to quickly and easily deploy DApps and use smart contracts. It also supports President Xi Jinping's October call to make China the world leader in blockchain.

  • Coming not-so-soon?
    Cryptocurrencies

    China pilots state-issued digital currency

    Despite that, a real central bank digital currency could be a long way off, a Chinese publication reported; Huawei deeply involved

    China announced plans to launch real-world test of a central bank digital currency on Dec. 9. But an actual central bank digital currency is probably not coming very soon, the article said.